Debit Orders Collections
PaytoZa can assist your business with an efficient way to recover funds from your customers.
Some key aspects:
- PaytoZa’s debit order system enables the automatic and electronic lodgement of debit orders on your clients’ accounts as recurring and / or non-recurring collections. This significantly reduces management time and eliminates the on-going expense of accepting payments through traditional paper and magnetic methods.
- Debit Orders are an effective and safe alternative to receiving money by cheque, in cash or stop order.
- No upfront guarantees are required against your debit order collections.
- Up to 90% of your debit order batch value will be received within 5 working days following the day the debit orders are processed.
- The retained amount for your debit order batch is released to you 25 working days later.
- PaytoZa continuously conduct data validation checks which reduces the inconvenience of returned or rejected transactions.
Debit orders can be processed on any workday, Monday to Friday, excluding public holidays. With effect from February 2013, debit orders can also be processed on Saturdays.
We offer the 2 Day debit order service and unless agreed otherwise, the debit order batch will be required to be processed and authorised by 12pm (evening) five working days prior to the requested action date. Funds (less any amounts retained) are transferred to your account within five working days after the action date.
Debit order mandates
PaytoZa will provide you with the required wording for the debit order instruction forms that need to be signed by your debit ordercustomers. Client mandates can be uploaded electronically onto the PaytoZa debit order system as a backup to your original documents.
A Non-Authenticated Early Debit Order (NAEDO) instruction is similar to a debit order except that it is processed on a priority basis as closely as possible with salary and wage credits.
In addition, a tracking functionality can be used to monitor credit activity on an account. The NAEDO instruction is checked daily for the duration of the selected tracking period and the
instruction is executed when a credit is applied to the account following the daily check.
The NAEDO debit order batch will be required to be processed and authorised by 11am one working day prior to the action date. Funds (less any amounts retained) are transferred to yourPaytoZa balance for clearance up to five working days after collection date.
PaytoZa will provide you with the required wording for the debit order instruction forms that need to be signed by your debit order customers. Client mandates can be uploaded electronically onto the PaytoZa debit order system as a backup to your original documents.
Credit orders are electronic fund transfer payment instructions and are used by clients to process bulk payroll or creditor payments at a reduced fee to normal transaction cost.
Payments Association of South Africa – registered Systems Operator and Third Party Payment Provider
(Sponsored by First National Bank)
Systems Operator Member of Early Debit Order Payment System Stakeholder Forum
Member of the Commercial Independent Bureaux Association
We are an Authorised Financial Services Provider (FSP45826)